Acquired
Cheltenham – Coral Betting Shop
84 London Road, Cheltenham, Gloucestershire GL52 6EHFreehold Terrace Shop and First Floor Upper Part Let
Investment Consideration
- Entire property is let on a full repairing and insuring lease to Arthur Prince (Turf Accountants) Ltd with a guarantee from Coral Racing Ltd
- Lease expires 2026, no breaks
- Rent Review 2021 to the greater of OMV or 2.5% p.a. compounded. Therefore the minimum rent in 2021 will be £6,400 p.a.
- Located at the corner of Keynsham Street within a local parade of shops serving the surrounding sought after residential area only ¼ mile from the town centre.
VAT
VAT is not applicable.
Property Description
A two storey terraced property comprising a Ground Floor Betting Shop with a First Floor above having no access.
The property provides the following accommodation and dimensions:
Ground Floor Shop
Gross Frontage 16’9”
Internal Width 15’2”
Shop Depth 12’3”
Built Depth 17’9”
2 WC’s
First Floor Not Inspected – no access
The property provides the following accommodation and dimensions:
Ground Floor Shop
Gross Frontage 16’9”
Internal Width 15’2”
Shop Depth 12’3”
Built Depth 17’9”
2 WC’s
First Floor Not Inspected – no access
Tenancy Description
The entire property is let on a full repairing and insuring lease to Arthur Prince (Turf Accountants) Ltd with a guarantee from Coral Racing Ltd (having approx. 1,600 branches) for a term of 15 years from 24th August 2011 at a current rent of £5,657 per annum exclusive.
Tenancies & Accommodation
Location Description
Located on the main A40 London Road at the corner of Keynsham Street within a local parade of shops serving the surrounding sought after residential area only ¼ mile from the town centre. Cheltenham is an attractive Spa Town approximately 8 miles east of Gloucester and 42 miles north of Bristol, only 4 miles east of the M5 (J11) which links with the M4 to the South and the M42 to the North.
